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Home / World / Brexit & # 39; no-deal & # 39 ;: paper due to impact on financial services due Thursday | politics

Brexit & # 39; no-deal & # 39 ;: paper due to impact on financial services due Thursday | politics



A Brexit no-deal impact paper on financial services was listed among the first official assessments to be released on Thursday, at a time when banks and insurance companies warned of the risks of disorderly exit

Paper was unexpectedly published as one of about 20 "no-deal" papers, covering topics as diverse as nuclear research, farm payments and state aid. The government wants to clarify what action needs to be taken should Britain fail to join the EU.

Downing Street had hoped that the first batch of documents would generate relatively little controversy, which is why the banks are present paper on the release list has surprised Whitehall's sources.

UK Finance, the trade organization for the financial sector, warned that a no-deal scenario needs to be urgently addressed to avoid the risk of a serious collapse of cross-border financial services in March 201

9. "She is particularly concerned about continuity the treaties and the flow of data across the UK-EU border in the face of hard Brexit.

Ministers were able to withdraw the financial services paper from the documents released on Thursday and Downing Street has refused to confirm which of the 84 Deal reviews will be released in the first batch, with the remainder to be released in September.

A health paper may also be published in the first wave after NHS Providers, an NHS organization, warned that hospitals could become drug-less or even out of them in the event of one No-deal-Brexit.

Brexit Secretary Dominic Raab will deliver a speech on Thursday morning outlining the context for the publication of the papers after he returned from Brussels, where he met Michel Barnier in the last Had taken divorce proceedings. [196592002] Other publications expected to be published in the first series include a title entitled Future participation in Erasmus +, which refers to the European Union's education, training and sports programs.

The works are relatively short, somewhere between two and five pages, and all follow a given template. The idea is to determine what action governments must take in each sector to avoid brexit and to make it clear to businesses and organizations how to respond.

Growing concerns over the possibility of a no-deal, a possibility discussed by ministers as a bargaining tactic, has hit the pound in recent months, with sterling-touching 12-month lows in August.

Mark Carney, Governor of the Bank of England, warned this month that the risks of Brexit's failure to do business were "unpleasantly high". He said he had asked British banks to ensure that they had liquidity and capital available when needed.

On Tuesday, Liam Fox, the international secretary of commerce, suggested that a post-Brexit immigration policy should favor those who want to go in the UK for a job offer, as he sought to outdo the country's economic prospects after leaving the EU to improve.

Fox said that the referendum in 2016 showed that the British public had rejected the freedom of movement taking into account the employment needs of the United Kingdom.

"I think the public can make a difference between people who come here for a job and contribute to the economy, and those who come to the United Kingdom freely and can use our land to do public services without ever joining them contributed, "said Fox LBC Radio.

"In the future, we need to look at how to combine our employment opportunities with our migration policies," he added, suggesting that he favored a two-tier system.

Britain has not yet formulated what kind of migration policy it wants to introduce after Brexit. A much-belated white paper on this topic is expected to appear sometime in the fall. The net immigration is to be limited to 100,000 persons per year, although the goal was never reached.

Many sectors of the UK economy, such as agriculture and health, rely on workers from other parts of the EU. About 5.6% of NHS staff are EU citizens, and there have been repeated warnings that healthcare would be disrupted if the UK were not easily recruited from overseas.

Liberal Democrat Layla Moran, who acts as a spokesperson for the pro – The UK's Best for Britain election campaign asked if Fox would announce a government policy that would allow people with job opportunities to move freely to the United Kingdom ,

"Liam Fox has to come clean and tell us: is this the government's plan or just more of a hip shoot?" Moran said. She said she believed free movement had benefited the UK and should be protected.


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